In October 2021, Deputy Attorney General Lisa Monaco announced revised US Department of Justice (DOJ) guidance on corporate monitorships, signaling a sharp change in the declining trend of the tool over the past few years. (NRF has previously examined the DOJ’s policy changes.) Recently, the DOJ and the US Securities and Exchange Commission (SEC) announced

The UK and US white-collar crime teams have again authored the chapter Production of Information to the Authorities in the sixth and latest edition of Global Investigations Review – The Practitioner’s Guide to Global Investigations.

Information requests from regulators continue to raise a host of complex legal and practical issues for entities and individuals.

As 2021 draws to a close, we look ahead to the trends and new requirements that we may see over the next twelve months for financial institutions (FIs) in the white collar crime sphere as regulators, legislators and individuals continue to adapt to the pandemic and prevailing public opinion.

1. An increase in fraud-related investigations

Like the US Department of Justice, Congress is sharpening its focus on lenders and FinTech companies who facilitated pandemic-relief programs. In the latest development, the United States House Select Subcommittee on the Coronavirus Crisis issued letters to two companies demanding documents and responses to specific questions. It is clear that investigations into pandemic-relief fraud are accelerating, and it appears the Department of Justice is not alone in setting its sights on lenders and their FinTech partners. Businesses and individuals in the financial industry now must be prepared for congressional investigations.

One of the key risks that financial institutions both sides of the pond are currently grappling with relates to the use by employees of “off-channel” communications.   These are typically communications not monitored by the institution and not retained under various regulators’ business records requirements.  Despite most companies having a policy that prohibits the use of

On 28 April 2021, Airbus’ UK subsidiary GPT Special Project Management Ltd (GPT) was convicted of corruption and sentenced to pay penalties of over £30m by the Crown Court in London.

This case preceded the wider investigation into Airbus culminating in its US$3.9 billion global deferred prosecution agreement in 2020 (see our previous article here

Throughout 2020 and 2021, financial services firms have had to respond and adapt to a number of regulatory challenges in an unprecedented fashion. Firms now have to navigate a diverging regulatory landscape as a result of Brexit, at the same time as continuing to respond to an array of pandemic-related risks that have arisen. Nevertheless,